CPHI Korea Opens as South Korea Emerges as Global Leader in Biosimilar Trials

CPHI Korea, organised by UBM EMEA, will return to the COEX in Seoul, South Korea — 7–9 September 2015 — following a successful inaugural event last year. Co-organised by the Korean Pharmaceutical Traders Association, the event will be co-located with ICSE, P-MEC and BioPh. Together, these four-events-in-one, provide an unrivalled meeting point for global suppliers of raw materials, machinery, contract services and bio-solutions to interact with domestic and international visitors and deliver pharmaceutical products across Asia and the wider globe.

The pharmaceutical economy in South Korea is expected to reach a value of over $24 billion by 2020 and following the country’s “Pharma 2020 Vision”, the Government has committed $8.9 billion to drug development over the next 5 years. Investment in biotechnology is increasing, with annual double-digit growth expected in this sector over the coming years. Most significantly, South Korea has the largest number of biosimilar clinical trials and targets in its pipeline, making it the global leader for development within this class.

Last year, South Korea reached a milestone in joining The Pharmaceutical Inspection Convention and Pharmaceutical Inspection Co-operation Scheme (PIC/S), which allowed domestic companies in the South Korean pharma industry to advance into foreign markets. CPHI Korea aims to provide an even bigger platform this year for such international collaboration, growing in tandem with the wider economy.

The South Korean market is already the fifteenth largest pharmaceutical market in the world and CPHI Korea has expanded to a 3-day event, with an exhibition space that is three times larger in 2015. Over 3000 attendees and 150 exhibitors from an estimated 50 countries are set to gather in South Korea for the event’s second edition.

Chris Kilbee, Group Director at UBM EMEA commented: “We are delighted to return to South Korea for a second year, with an expanded exhibition and content portfolio. After such a successful opening event last year, we are very excited to be delivering a more market-focused exhibition at such a key time for this regional hot-bed of pharma innovation.

Over the next few years, strong growth is forecast for South Korea, thanks to the Government’s “Pharma 2020” plan and pushing ahead with increased R&D investment; it really is a dynamic time to enter this market. Moreover, CPHI Korea plays an essential role in gathering pharma companies and executives from across Asia and the globe, and provides an unrivalled central hub for creating business opportunities and partnerships.”